Walker & Dunlop Invests in Property Management Software Company
Bringing Intuitive, Innovative Software to a Broader Market
BETHESDA, Md., Nov. 9, 2021 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that it has made a minority investment in Fortress Technology Solutions, a real estate technology firm that creates property management software solutions for multifamily owners and operators. Fortress' unique platform includes robust third-party application integrations and business intelligence tools to provide users real-time performance data into their multifamily properties. Fortress' software is user-friendly, transparent, and informative, and in combination with Walker & Dunlop's extensive relationships across the multifamily industry, will create tremendous value for multifamily owners and operators.
Fortress provides an additional avenue for Walker & Dunlop to help multifamily owners and operators optimize portfolio performance. According to the National Multifamily Housing Council, there are approximately 22 million apartment units across nearly three million properties in the United States, 48% of which are apartments with less than 100 units, considered medium to small multifamily properties. Walker & Dunlop has already made significant investments in people and technology this year to scale its lending capabilities for owners of medium and small properties and has set a goal to scale this business to $5 billion in annual loan originations by 2025. By pairing Walker & Dunlop's lending capabilities with Fortress's software solutions, the company will strive to maintain its position as the largest provider of capital to the multifamily industry.
Aaron Perlis, Chief Technology Officer, shared, "This investment aligns with our Drive to '25 goal of growing our presence in the small balance lending space. We're thrilled to join forces with Kerri Davis, President and CEO of Fortress, and her talented team to bring such an innovative, intuitive solution to our clients. Walker & Dunlop continues to focus on providing increased value to our team members and customers by leveraging technology to address pain points and improve the overall customer experience. By combining our core lending software solutions directly with Fortress' platform, we can provide these owner/operators with immediate insight into their debt portfolio and refinance opportunities in one place, further accelerating growth across the company's lending businesses and growing Fortress' client base."
Kerri Davis stated, "We are honored to be partnering with Walker & Dunlop as a part of their long-term strategy to provide the most efficient and comprehensive solutions to their clients. Fortress is designed for all multifamily operators, but private owners and operators have been most vocal in their need for a transparent and cost-effective core platform that allows them to outperform the market and ultimately adds value to their assets. We look forward to taking our core software to the next level with Walker & Dunlop by leveraging their lending solutions to provide analysis and recommendations on the increased value that Fortress helps create. This partnership will create a game changing experience for Fortress users."
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is the largest provider of capital to the multifamily industry in the United States and the fourth largest lender on all commercial real estate including industrial, office, retail, and hospitality. Walker & Dunlop enables real estate owners and operators to bring their visions of communities — where Americans live, work, shop, and play — to life. The power of our people, premier brand, and industry-leading technology enables us to meet any client need – including financing, research, property sales, valuation, and advisory services. With over 1,000 employees across every major U.S. market, Walker & Dunlop has consistently been named one of Fortune's Great Places to Work® and is committed to making the commercial real estate industry more inclusive and diverse while creating meaningful social, environmental, and economic change in our communities.
About Fortress
Fortress is a core property management software product created on the basis that property management software should be easy, transparent and informative. Existing property management platforms are outdated, lack proper support and require a computer science degree and a deep bank account to fully understand and get the most out of them. Fortress recovers lost time and money through in-system training, support from the perspective of a property management company and real-time data for immediate knowledge and action. Fortress is based in Nashville, Tennessee. To learn more, visit fortresstech.net.
SOURCE Walker & Dunlop, Inc.
Share this article